Similar Search Results

Efficiency, compensation, and discrimination: What is at stake when implementing the EU emissions trading scheme?

Böhringer, Christoph; Lange, Andreas - 2004

In 2005, an EU-wide emissions trading scheme covering major CO2 producing sites shall come into power. The key objective of the trading scheme is to promote cost-efficiency of carbon reduction within the EU. We identify policy-relevant tradeoffs between overall efficiency, compensation and...

Persistent link: https://www.econbiz.de/10011422110

Tomatoes or Tomato Pickers? - Free Trade and Migration in the NAFTA Case

del Río, Amaranta Melchor; Thorwarth, Susanne - 2006

This paper examines the relationship between trade liberalisation and migration in the case of Mexico. The increasing bilateral trade between Mexico and the United States after signing the North American Free Trade Agreement (NAFTA) was supposed to stem the illegal Mexican migration flow by...

Persistent link: https://www.econbiz.de/10011422132

Application of the Generalized Method of Moments for Estimating Continuous-Time Models of U.S. Short-Term Interest Rates

Cserna, Balázs - 2008

We show by Monte Carlo simulations that the jackknife estimation of QUENOUILLE (1956) provides substantial bias … reduction for the estimation of short-term interest rate models applied in CHAN ET AL. (1992) - hereafter CKLS (1992). We find … that an alternative estimation based on NOWMAN (1997) does not sufficiently solve the problem of time aggregation. We …

Persistent link: https://www.econbiz.de/10011422171

Modeling Volatility Spillovers between the Variabilities of US Inflation and Output: the UECCC GARCH Model

Conrad, Christian; Karanasos, Menelaos - 2008

This paper employs the unrestricted extended constant conditional correlation GARCH specification proposed in Conrad and Karanasos (2008) to examine the intertemporal relationship between the uncertainties of inflation and output growth in the US. We find that inflation uncertainty effects...

Persistent link: https://www.econbiz.de/10011422179

Modeling and Explaining the Dynamics of European Union Allowance Prices at High-Frequency

Conrad, Christian; Rittler, Daniel; Rotfuß, Waldemar - 2010

In this paper we model the adjustment process of European Union Allowance (EUA) prices to the releases of announcements at high-frequency controlling for intraday periodicity, volatility clustering and volatility persistence. We find that the high-frequency EUA price dynamics are very well...

Persistent link: https://www.econbiz.de/10011422199

Price Discovery, Causality and Volatility Spillovers in European Union Allowances Phase II: A High Frequency Analysis

Rittler, Daniel - 2009

This paper deals with the modeling of the relationship of European Union Allowance spot- and futures-prices within the second commitment period of the European Union Emission Trading Scheme. Based on high frequency data, we analyze causality in the first and the second conditional moments. To...

Persistent link: https://www.econbiz.de/10011422201

Explaining Inflation Persistence by a Time-Varying Taylor Rule

Conrad, Christian; Eife, Thomas A. - 2010

In a simple New Keynesian model, we derive a closed form solution for the inflation persistence parameter as a function of the policy weights in the central bank’s Taylor rule. By estimating the time-varying weights that the FED attaches to inflation and the output gap, we show that the...

Persistent link: https://www.econbiz.de/10011422213

Modeling the link between US inflation and output: the importance of the uncertainty channel

Conrad, Christian; Karanasos, Menelaos - 2010

This paper employs an augmented version of the UECCC GARCH specification proposed in Conrad and Karanasos (2010) which allows for lagged in-mean effects, level effects as well as asymmetries in the conditional variances. In this unified framework we examine the twelve potential intertemporal...

Persistent link: https://www.econbiz.de/10011422216

Explaining Inflation-Gap Persistence by a Time-Varying Taylor Rule

Conrad, Christian; Eife, Thomas A. - 2012

In a simple New Keynesian model, we derive a closed form solution for the inflation-gap persistence parameter as a function of the policy weights in the central bank’s Taylor rule. By estimating the time-varying weights that the FED attaches to inflation and the output gap, we show that the...

Persistent link: https://www.econbiz.de/10011422228

On the Macroeconomic Determinants of the Long-Term Oil-Stock Correlation

Conrad, Christian; Loch, Karin; Rittler, Daniel - 2012

Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables which contain information on current and future economic activity are helpful predictors for...

Persistent link: https://www.econbiz.de/10011422237